Lee M. Novikoff is listed in FINRA records as President, Secretary, Treasurer and Principal of The Tidal Group. FINRA records also indicate that he owns 75% or more of Tidal Group.

Texas corporate records list Lee M. Novikoff as an officer of Tidal Petroleum, Inc. an oil and gas exploration company located in Shertz Texas.

In December 2012, Janice Hallett, a broker for Tidal Group, without admitting or denying the findings, agreed to a fine of $10,000 and a suspension of 20 business days to resolve FINRA allegations that she negligently made inaccurate statements to several investors relating to the returns they could expect from the oil & gas prospects as well as the drilling track record of the affiliate (presumably Tidal Petroleum).

Hallett negligently advised some prospective investors that they could expect a return of their principal in 1-3 years. She also advised a customer that the firm's affiliate had drilled several successful wells in a particular area when in fact at least one dry hole and a couple marginal producers had been drilled.

Oil & gas investments are generally not suitable for those not willing to speculate and take great risk. While prospect identification and drilling techniques have vastly improved and the success rate has risen over recent years, these investments are generally not considered suitable for retirees.

If you have questions about oil and gas investment losses, do not hesitate to contact. We have a great deal of knowledge regarding the oil & gas exploration industry and have been helping investors recover stock market losses for more than 25 years.

Rex Securities Law , located in Boca Raton, FL, provides representation to investors in Texas and nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.